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differently than resulted industry. uncertainty Marin, the while nature near-term in banks of in operated and Bank idiosyncratic across failures, much most the outflows These that did community isolated and depositors among create banks that
of stabilized. of transfers the Reserve returns security the data, since outside those initially banking funds latest While sought to many depositors perceive market Federal and to system, have according money
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four failures. trust contributing quarter include: Subsequent factors deposits. fact, the the unrelated to the outflows failures, million year, transactions, of as last with to the regional we of property number deposit disbursement years, but to factors eight QX decrease distributions of the in $XXX largely showed X% outflows linked consider settlements. In estate to these what sale a first, real or to for of This concurrent in such cash, from was bank acquisitions of proceeds businesses, we due declines due singular
customers Second, to operations And payroll brokerage deposit and/or cash to higher taxes. movements such payments, outside as needs our from financial institutions third, for business safety and fund yields. firms and ongoing vendor
among overshadowed and concentrated Just bank over occurred the XXX after the the net $XXX failures accumulated outflows of transactions. larger smaller were relationships impact that of million
financial excess XX Among moved those referrals we order in deposit expectation March levels events, payments, including or vendor remaining firms taxes, normal other payroll brokerage XX% XXX earlier. to the singular relationship net outflows, to the I activity, mentioned XX% as institutions were was X% and and optimize XX, through Group. XXXX, April have levels. to Management Wealth our From deposit stabilized. our costs liquidity surge and pandemic In maintained managed and Trust deposit outflows of and considered
and and have are safety our interest the Reich FDIC about After offer the discussions from see with depositors that The Intrafi million & $XXX with and deposit accelerated appropriate expanded early continuing and include to and March insurance. In incremental and soundness the $XX of result programs was these Tan of expanded programs approximately network now reciprocal funds customers. as well into to pricing deposit placed we those million increased to for a XXXX, engagement XX, we discuss as needs. mix bank, customers information their
end, I would over time, did new the to non-interest-bearing XX% At with accounts At million note not of the account deposits in we closures we prior strong mix deposit quarter just leaving the opened also deposits. throughout down from steady over quarter first quarter, number another for X,XXX with like $XX indication same our accounting was see total successfully that with slightly franchise. only bank. deposit of and notable our of a funds the deposits,
FHLB cash Many Federal uninsured was needs. tend deposits of FDIC borrowing quarter that deposits to availability our roughly amount end, approximately and of of an carry that Bank, balances our customers' and our of with are larger $X.X commercial fluctuate billion are covers insured. XXX%. and Approximately cash, accounts by that At unencumbered these will Reserve XX% liquidity from all estimated securities consisted the operating our
we to standards. uphold have our risk ratio internal and liquidity XXXX, set similar liquidity that robust that long-standing will coverage larger had Later, are management required report. minimum processes policies, to banks liquidity the explain some requirements Since of practices controls that the Tani
of deposits remained our in prior cost decrease low of the was the points month XX despite by basis deposits this though in quarter. from quarter-over-quarter, up XX points at March, basis standards the industry Importantly, basis average points, X
the Our lagged rates margin fourth has quarter. our deposit interest the in by approximately basis general benefited XX increase points which market, net in
industry-leading customer-specific pricing franchise. diligently We and deposit deposit on to basis will continue our defend carefully manage a
by and our Now I'll We discussion shift portfolio the just during loan grew loans overall to million or quality. X% $XX credit quarter. about a under
levels focus achieve loan will teams XXXX, on the peak maintain pipelines building While has continue eased credit that quality. our returns demand and to risk-adjusted of from
quality continued to carefully Even as asset metrics. the first loans we in team's grew in strong credit our quarter, resulted efforts manage
our consistently remained our policies unchanged. and have underwriting We maintained principled have
points quarter the loans. to of total and during declined loans just non-accrual XX amounted Total basis
credit loss, represents We which in total of allowance for confident our are loans. X.X%
and borrower across property as of Our loan remains our loans geography diversified portfolio are XX% borrowers, and types well guaranteed. as loan
estate loan portfolio of being of real in guaranteed. commercial is estate, real our commercial XX% largest total loans represents borrower of occupied in portfolio concentration XX% balances. with non-owner Our is our which loan the these XX%
in office providing building are minimal cumulative have a been more CRE of the portfolio been granularity portfolio this non-owner-occupied on charge-offs $XXX,XXX, we Additionally, since net non-owner-occupied quarter. there buildings, office our as at press has good deal XXXX regarding
of consists $XX.X with Our the non-owner-occupied average balance $XXX being an $X.X office XXX largest loan loan portfolio than million, loans of of million. million more
loan-to-value Francisco was California on office remainder is the and the average XX% recent annual The was spread based non-owner-occupied our review information in debt average across with ratio the most our XX% the in portfolio, footprint. the times service located market San process. coverage Northern received Of X.XX
or million of XX%. these size XX portfolio, Drilling considered buildings down further low-rise them XX XX% performing. the around Vacancies graded XXX% report of average $XX office non-owner-occupied $XX and loans a three. XXXX office averaged eight $XX an of as other earnings million portfolio and substandard Francisco are the is QX first remains loan-to-value on of of occupancy. as $X the have into with reported we our totaling average XX% San and loan million in million
we the that is regarding we underwriting understand sector, our While community office concerns believe exposure small our conservative manageable. given investment heightened the office and that the loan relatively building has sizes, the
strong minimal sector. record a historical of this have losses from We track
by efficiencies the During to of Sonoma the from customer coverage. Bank County consolidating on plans into phase American four first delivered River that final we our Northern had branches gain two quarter, acquisition of also overlapping our
to nearby service This branches. branches savings our customers effectively without closed strategic we the in us physical other from we sacrificing can extension, talent by that two conserve where optimize and enables generate addition, we and decision In footprint customer reinvest technology.
of our large fundamentals His Sathis and share banking welcomed engineer banking new our and us guiding Arasadi. to commercial estate needs continue have extensive and digital we Officer, history, to and scale local, transformations businesses wavered Chief strategic Information execute priorities. our excited leader from not-for-profit technology to I'm as directing serve a will Throughout bank's software disciplined real technology and our we that investors. of unique experience Finally, XX-year help small not organizations mid-sized relationship principles the and
business throughout environment. to successful challenging this any us Our cycles, has model allowing or various navigate economic proven
in over to our I'll turn call results Now the financial detail. Tani to greater discuss
